People

CFOs on the Move

Delta Air Lines; Raytheon; Iomega; Shurgard Storage Centers; Ivanhoe Mines; Transmeta; LeCroy; Cendant Travel Distribution Services; County Nationa...
Stephen TaubMay 21, 2004
  • As part of a large management shakeup, Delta Air Lines named Mike Palumbo executive vice president and chief financial officer. He will be responsible for financial planning services, financial control, treasury, investor relations, tax, risk, supply chain, corporate real estate, profit improvement initiatives, fleet acquisition, and Delta technology. Palumbo, who joined Delta earlier this month, replaces Michele Burns, who left Delta to become CFO at bankrupt energy supplier Mirant Corp.
  • Raytheon Co. has named Nancy Greer as vice president of finance and chief financial officer for Raytheon Intelligence and Information Systems, effective June 7. Greer most recently served as senior vice president and CFO of Alcatel North America.
  • Iomega Corp. announced that chief financial officer Barry Zwarenstein has resigned, effective June 11, to accept a position closer to his home in the San Francisco Bay area. Zwarenstein explained that he’s leaving because, after two-and-a-half years, he no longer wants to commute weekly between his home and the company’s San Diego headquarters. Iomega said it has begun the process to recruit a new CFO.
  • Shurgard Storage Centers Inc. announced that Dev Ghose will join the self-storage real estate investment trust in mid-August as chief financial officer. For the past year, Ghose was a partner with finance and IT professional-services provider Tatum Partners. He replaces Dave Grant, who has been serving as interim CFO since February 2004.
  • Ivanhoe Mines has divided the responsibilities of the chief financial officer and created a new position of treasurer. “The separation of roles was prompted by the increased demands and complexities of financial management as the company moves forward with the development of its Oyu Tolgoi [Turquoise Hill] copper and gold project in Mongolia,” the company noted.

Pierre Masse, the company’s current CFO, will assume the position of vice president and treasurer. Peter Meredith, the company’s CFO from June 1999 to November, 2001, will return to that position; he rejoins the company from Ivanhoe Capital Corp., a private, Singapore-based company that specializes in venture capital and project financing. Both changes take effect immediately.

  • Microprocessor manufacturer Transmeta Corp. announced that Svend-Olav Carlsen, the company’s chief financial officer, plans to resign in June 2004 in order to accept a new opportunity with a privately held company. Carlsen joined Transmeta as corporate controller in October 2000 and has served as CFO since June 2002.
  • LeCroy Corp., a provider of oscilloscopes and related test and measurement equipment, named Norman R. “Bud” Robertson to the board of directors, where he will serve as the designated audit committee financial expert. He is senior vice president, finance and administration, and chief financial officer for Progress Software Corp., a Bedford, Massachusetts, supplier of development, deployment, integration, and business management applications.
  • Cendant Travel Distribution Services, a division of Cendant Corp., named Daryl Raiford chief financial officer and executive vice president, finance and administration. He was formerly vice president, finance and administration for Hewlett-Packard Co. in the Americas.
  • Charles R. Guarino was appointed vice president/chief financial officer of County National Bank. He was most recently audit supervisor for Parente Randolph, a regional public accounting firm.
  • Valerie Kendall was named chief financial officer of Jacksonville Bancorp, succeeding Cheryl Whalen, who has resigned to pursue other business opportunities.
  • Todd Waggoner was named the new chief financial officer for PGT Industries, a privately held maker of custom windows, doors, and patio rooms. Waggoner, a 12-year veteran of the company, was formerly PGT’s corporate controller.